Rao Varsha Rajendra 4

What Happened
Rao Varsha Rajendra, a director of Callaway Golf Co. (CALY), had 18,546 restricted stock units (RSUs convertibles) vest and convert into 18,546 shares on May 21, 2026. The Form 4 reports an exercise/conversion of a derivative (code M) showing 18,546 shares acquired and the derivative disposed, all at a $0.00 exercise price — i.e., no cash purchase was made. This is receipt of equity compensation rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-21 (reported same day).
• Reported entries: Exercise/conversion of derivative (code M) — 18,546 shares acquired; same number reported as derivative disposed. Exercise price reported $0.00.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: F1–F3 indicate these shares were issued upon RSU vesting, convert one-for-one to common stock, were granted May 29, 2025, and vest in full on the date of the 2026 Annual Meeting.
• Filing timeliness: Report filed on 2026-05-21 (timely).

Context
This filing documents routine equity compensation vesting (RSUs converting into common stock). The dual “acquired” and “disposed” lines reflect the conversion of the derivative award into underlying shares for reporting purposes, not a market sale. Such vesting is common for executives and directors and does not, by itself, indicate a buying or selling signal.